The 26-year-old was shipped out on loan to the Brasileiro giants last summer on a season-long loan deal and made a positive impression for his new club during the 2021 campaign.
Pereira registered five goals and an assist in 24 matches across all competitions for Flamengo, who are said to be keen to make his stay a permanent one.
According to Brazilian outlet Universo Online, Flamengo have now reached an agreement to sign Pereira on a permanent basis in a deal which could eventually earn Man United up to £12m.
The report adds that Flamengo will purchase 75% of Pereira's economic rights, and the ex-Valencia man is poised to sign a deal until the summer of 2026.
Pereira remains under contract at Old Trafford until the summer of 2023 and prepares to leave Man United after registering four goals and five assists in 75 appearances for the Red Devils. body check tags ::